Brief: Inapa's Creditors Evaluate Report From Insolvency Administrator

Inapa Investimentos Participacoes e Gestao SA

27/09/2024 18:18

Sept 27 (Reuters) - Inapa Investimentos Participacoes e
Gestao SA  INA.LS :
    * CREDITORS' MEETING FOR EVALUATION OF REPORT PRESENTED BY
INSOLVENCY ADMINISTRATOR TOOK PLACE
    * APPROVED MAINTAINING OF ACTIVITY OF INSOLVENT
COESTABLISHMENT IN
SPHERE OF INSOLVENCY ADMINISTRATOR, WITHOUT SUSPENDING
LIQUIDATION OF ASSETS
    * APPROVES AUTHORISATION FOR INSOLVENT COMPANY TO DECIDE ON
SALE
BY EUROPACKAGING OF 100% OF SHAREHOLDINGS IN INAPA PACKAGING AND
OF ITS SUBSIDIARIES SEMAQ AND EMBALTEC FOR 20 MILLION EUROS
    * APPROVED PERIOD OF 30 DAYS TO BE GRANTED FOR EXCLUSIVE
NEGOTIATION WITH JAPAN PULP AND PAPER IN ORDER TO ESTABLISH
EXACT TERMS OF PROPOSED TRANSACTION FOR ACQUISITION OF INAPA
FRANCE AND, INDIRECTLY, ACQUISITION OF JJ LOOS
    * APPROVES ONCE PROPOSAL CONDITIONS VERIFIED AND FIXED PRICE
OF
€25 MILLION FOR TRANSACTION PERIMETER ENSURED, DEFINITIVE SHARE
PURCHASE AGREEMENT IS SIGNED
    * WITH REGARD TO ONLY PROPOSAL RECEIVED WHOSE TRANSACTION
PERIMETER COVERED WHOLE OF INAPA IPG, NO CONFIRMATION WAS
RECEIVED FROM BIDDER
    * NO CONFIRMATION THAT BIDDER MANAGED TO FORMALISE
CAPITALISATION
AGREEMENT, NOR ANY CONTACT FROM SHAREHOLDERS ABOUT INTENTION TO
SECURE CAPITALISATION

Source text: https://tinyurl.com/4xnxpzek
Further company coverage:  INA.LS 

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